EU lawmakers unfazed by Meta's threat that it would pull out of Europe
Meta said that it may have to shut down Facebook and Instagram in Europe over data privacy rules -- and at least two European politicians think that's a good idea.
Credit: Alexandre Lallemand/Unsplash
European regulators are currently working on new legislation that would place restrictions on how EU citizen data gets transferred to the U.S. As a result, Meta issued a veiled threat to pull its social media platforms in Europe during its annual report on Thursday, CNBC has reported.
Two EU politicians, German Economy Minister Robert Habeck and French Finance Minister Bruno Le Maire, said that Europe would do just fine without Facebook and Instagram, according to Bloomberg.
"After being hacked I've lived without Facebook and Twitter for four years and life has been fantastic," said Habeck at an event in Paris on Monday.
"I can confirm that life is very good without Facebook and that we would live very well without Facebook," Le Maire said. "Digital giants must understand that the European continent will resist and affirm its sovereignty."
The pair made the comments in response to Meta's threat. Specifically, Meta wrote that if it can't use existing agreements to shift data back to the U.S., it would "likely be unable to offer a number of our most significant products and services ... in Europe."
Habeck said that the European Union was "such a big internal market with so much economic power that if we act in unity we won't be intimidated by something like this."
A Meta spokesperson, however, told CNBC that the company doesn't currently want or have plans to withdraw from the European market. The spokesperson added that Meta has raised similar data privacy concerns in previous filings.
However, they added that Meta and other companies "rely on data transfers between the EU and the U.S. in order to operate global services."
If the EU regulations preventing data transfer to the U.S. go through, Meta in its annual report said that the change would "materially and adversely affect our business, financial condition, and results of operations."
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Credit: Alexandre Lallemand/Unsplash
European regulators are currently working on new legislation that would place restrictions on how EU citizen data gets transferred to the U.S. As a result, Meta issued a veiled threat to pull its social media platforms in Europe during its annual report on Thursday, CNBC has reported.
Two EU politicians, German Economy Minister Robert Habeck and French Finance Minister Bruno Le Maire, said that Europe would do just fine without Facebook and Instagram, according to Bloomberg.
"After being hacked I've lived without Facebook and Twitter for four years and life has been fantastic," said Habeck at an event in Paris on Monday.
"I can confirm that life is very good without Facebook and that we would live very well without Facebook," Le Maire said. "Digital giants must understand that the European continent will resist and affirm its sovereignty."
The pair made the comments in response to Meta's threat. Specifically, Meta wrote that if it can't use existing agreements to shift data back to the U.S., it would "likely be unable to offer a number of our most significant products and services ... in Europe."
Habeck said that the European Union was "such a big internal market with so much economic power that if we act in unity we won't be intimidated by something like this."
A Meta spokesperson, however, told CNBC that the company doesn't currently want or have plans to withdraw from the European market. The spokesperson added that Meta has raised similar data privacy concerns in previous filings.
However, they added that Meta and other companies "rely on data transfers between the EU and the U.S. in order to operate global services."
If the EU regulations preventing data transfer to the U.S. go through, Meta in its annual report said that the change would "materially and adversely affect our business, financial condition, and results of operations."
Read on AppleInsider
Comments
Meta should definitely pull out if they can't comply with legislation and then we'd see a scramble for new platforms. It would be a win/win for consumers although I suppose Google would quickly fill any void.
If they took WhatsApp with them we'd have even more competition.
I say, call their bluff.
There are solutions for that problem.
If I'm remembering that correctly, then I don't understand the European perspective on 'data privacy.'
Happy to see Zuck sweat, though.
for all of the problems they have trying to build a one trick pony business.
I for one welcome a withdrawal of Meta. As a European, it would be a dream come true.
The problem is the EU, and it's "subsidiaries" i.e. countries have found an avenue to just $FINE American Companies willy nilly and nit pick. Until Apple or whatever American company just says ok no more.
I honestly say we should just abandon the EU and let them live with just Android and Windows. Like a FULL 100% pull out.
Other lawmakers will be lining up to do the same thing if it rids them of meta-trash.
They threaten, but it WILL NEVER HAPPEN.
Empty threats.
Call them on it.
If they leave, so what, no one will die and life in general will be much better instantly.
They’re acting like they are more powerful than government, and when companies act like that, it’s time to clip their wings. Anyone remember the “too big to fail” campaign around banks? Think everyone wants to go through that again for a few celebrities and influencers?
CALL THEIR BLUFF.
Websites could start by removing those hidden (from the user) links back to FB etc. My router blocklist would thank you. Almost every week, I have to add 20-30 more FB and Google, and MS slurp sites to the list.